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Dec 31, 2020
Invitation Homes Q4 2020 Earnings Report
Invitation Homes reported a revenue increase, a rise in net income, and high occupancy rates, demonstrating strong financial performance and resident demand.
Key Takeaways
Invitation Homes reported a 4.5% year-over-year increase in total revenues to $464 million for Q4 2020. Net income available to common stockholders increased by 36.0% to $71 million, with net income per diluted common share rising by 30.2% to $0.12. Same Store NOI grew by 4.3%, driven by a 2.0% increase in Same Store Core revenue growth and a 2.4% decrease in Same Store Core operating expenses. The company also capitalized on favorable buying fundamentals, purchasing 1,197 homes for $361 million.
Total revenues increased 4.5% year-over-year to $464 million.
Net income available to common stockholders increased 36.0% year-over-year to $71 million.
Same Store NOI grew 4.3% year-over-year.
Same Store average occupancy reached 98.1%, up 210 basis points year-over-year.
Revenue by Segment
Forward Guidance
The company provided guidance for FY 2021, expecting growth in Core FFO per share, AFFO per share, Same Store Core revenue, and Same Store NOI.
Positive Outlook
- Core FFO per share is projected to be between $1.30 and $1.40.
- AFFO per share is expected to range from $1.09 to $1.19.
- Same Store Core revenue growth is anticipated to be 3.5% - 4.5%.
- Same Store Core operating expense growth is forecasted at 4.5% - 5.5%.
- Same Store NOI growth is projected to be 3.0% - 4.0%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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